Mr. Rami Batal reports

P SQUARED RENEWABLES INC. ANNOUNCES CHANGE OF NAME TO UNIVERSAL IBOGAINE INC.

As part of the completion of its recently announced qualifying transaction (as such term is defined under Policy 2.3 of the corporate finance manual of the TSX Venture Exchange), P Squared Renewables Inc. has formally changed its name to Universal Ibogaine Inc. As noted in P Squared's news release of Sept. 2, 2021, the qualifying transaction involved a three-cornered amalgamation among P Squared, 1266855 B.C. Ltd. (Subco; a wholly owned subsidiary of P Squared) and Universal Ibogaine Inc. (UI).

The continuing entity has now completed a formal name change to Universal Ibogaine Inc. while UI and Subco amalgamated on Aug. 31, 2021, and continue as a British Columbia corporation that was renamed Clear Sky Recovery Solutions Inc., which is a wholly owned subsidiary of UI.

Final TSX-V approval and resumption of trading

The ultimate listing of the common shares of the resulting issuer is subject to final approval by the TSX-V, and resumption of trading of the common shares (under the intended trading symbol IBO) is subject to TSX-V conditions, which UI is in process of completing, prior to the expected issuance, in the coming weeks, of the ultimate final exchange bulletin by the TSX-V.

We seek Safe Harbor.